Nasdaq update......

So today I was hoping to see confirmation of my trade.  My stop was most recent high that happened 2 days ago.  There was a gap down and a strong rally that failed.

The candle stick formation is called anShooting Star.  The MACD has a large drop on the historgram indicating that a cross over could start to be seen quick which would be a sell signal.  Volume was not as strong as I hoped for.  The Slow stoch ended at 80.90, with this downward momentum I would say that it is likely to move from embedded to overbought breaking that 80 line which is also a sell signal.

This would be a great starter position if this really is the top.  I borrowed this Elliot wave count from this article on zerohedge

It is an interesting count..... What is basically says is we are entering an impulse down and we have seen the correction take its course.
This count I believe would predict the impulse wave down would end at 1765 on Nasdaq.  This is a very bearish count so again it is one of many possible counts.
It might be a good guide if the prediction starts to materialize.  However, the utter of QE will force the markets up up up, so be cautious.

I hope the end of the week is definitive, rather than an indecision day.